US ethylene contracts for March rising by nearly 10% from February

April 04/2011

(ICIS) -- US ethylene contracts for March were mostly settled on
Friday at 53.75 cents/lb (USD 1.185/tonne, EUR 830/t), rising by nearly 10% from
February on higher production costs and a jump in spot prices. The increase,
which was in line with projections, followed a 10% rise in ethane prices and a
nearly 16% surge in ethylene spot prices last month.

Spot ethylene traded in a range of 53.00-60.00 cents/lb in March, rising
from 44.25-53.50 cents/lb in February.